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Horse Racing System
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Mathematical Betting Systems
There are several types of mathematical betting systems, and several ways to use math to deduce a method of betting that will be profitable.
Patterns and Criteria
The first is using mathematics to determine what characteristics of a team or horse produce what type of result. The strategies are generally devoloped by poring over years of data and recognizing certain patterns in the data. Then, additional patterns are found within the orginal patterns and so on.
Eventually, a criteria is developed for which a team meeting the qualifications wins (or loses) more often than the given odds would suggest.
AboveAllOdds.com gives away a free book, "Inside the Mind of a Professional Gambler", that shows exactly how they used several criteria to determine exactly which horses to back and lay.
Coverall Systems
These are my favorite types of systems, because they can be very low-risk, and relatively high-profit. Two or more bets are placed on different outcomes and/or at different times before and during the match to make the chances of a loss very slim. These types of systems can have strike rates of up to 95%.
An example of this type of system (and one that I'm quite proud of) is my Football Betting System.
Money Management
The next type of mathematical betting system is a money management system, where the amount of the bettors stake can change from bet to bet to make profitability more likely in the long run. Often they are combined with another type of strategy, to make them more powerful.
The downside to a money management system is that they often don't eliminate risk completely. They can be more profitable than other systems, but are also riskier than many other systems.
An example of a money management system is my Baseball Betting System.
Arbitrage Betting Systems
Finally, there's arbitrage. Sought by many, perfected by few.
I am not a huge fan of arbitrage systems, because they often require a lot of work, without a large return. Some people have found their niche, though, and are doing quite well with arbitrage.
One example of an arbitrage system is The Risk-Free Betting Secret.
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